Citation
(1998), "Guide to business rates by Fuller Peiser", Property Management, Vol. 16 No. 4. https://doi.org/10.1108/pm.1998.11316dab.008
Publisher
:Emerald Group Publishing Limited
Copyright © 1998, MCB UP Limited
Guide to business rates by Fuller Peiser
Guide to business rates by Fuller Peiser
Leading rating surveyors and property consultants, Fuller Peiser, has produced a short and handy guide to help businesses understand their 1998 rates bill and to alert them to the preparatory work underway to determine a new rating list. The guide notes that care is needed now as rental evidence being collected by the valuation office in England and Wales and assessors in Scotland will help determine new valuations and rates payable from the year 2000.
The guide advises on how appeals against current rating assessments can be made following a "material change of circumstances", including empty rate relief where only parts of a property are vacant or temporary reductions that affect the "use and enjoyment" of the premises, such as a noisy development next door.
The next revaluation in year 2000 is also explored and how businesses should prepare and respond to the valuation office's new notices requesting rental information forms V06000 to V06002.
Based on relative movements in rents between 1993 and 1998, the guide outlines those areas of the country and property sectors where increases and decreases in rate bills are most likely in the year 2000 (Table II).
The guide also summarises the "key points" in the government's recent consultative document on business rates, and how the ideas outlined in the paper might affect businesses.
In particular, proposals to introduce a discretionary local business rate over and above the uniform business rate; to reduce appeals; and to maintain the real value of total revenue collected (offsetting the impact of rate reductions due to successful appeals) could add significantly to business costs.
Table II Likely increases and decreases in Year 2000
Year 2000 where will rate bills move, up or down?Assuming no increase in the overall contribution from business rates and changes to the rules
| Increased bills | Reduced bills |
| London retail | London industrial/warehouses |
| London offices | South industrial/warehouses |
| North retail | Midlands retail |
| North industrial/warehouses | South retail |
| Scottish retail | Scottish offices |
| Scottish industrial/warehouses | Wales retail |
| Wales industrial/warehouses |
Copies of Fuller Peiser's Guide to Business Rates are available free of charge. Call 0171 936 2233.